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Pure Biofuels (PBOF) Watches Demand For Biodiesel Increase, Analysts Predict Oil Spike |
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Global Warming has become the ultimate buzzword within the
past few years as nations scramble to go green not only to assuage their
demanding populace but to conform to numerous emerging global warming
treaties. Biodiesel has become one of
the go to fuel types due to relative cheap startup costs. Latin America has been leading the world in
the switch to greener energy sources with Brazil being the only country that is
entirely self-sufficient when it comes to energy. Pure Biofuels is located in neighboring Peru
which is also making strides to reduce its dependency on fossil fuels. Pure has already presold its production
levels to numerous fuel distributors in the country.
Demand for Biofuels is expected to grow exponentially as
numerous analysts from Merril Lynch and Barclays expect oil to spike above $80
a barrel in the second half of 2007.
This is mainly due to supply concerns as does not factor in political
tensions in the Middle East which is inflamed could spike oil as high as $250 a
barrel if a regional war broke out.
Pure Biofuels is positioned to benefit from the spike in oil
prices due to the company’s expanding production environment that is expected
to reach 52 million gallons of biodiesel per year.
About Pure Biofuels
Pure Biofuels is committed to being a leader in Latin
America's rapidly emerging biofuels industry. Pure Biofuels' flagship project,
the Callao Port biodiesel refinery near Lima, Peru, is scheduled to commence
production during the fourth quarter of 2007. The Callao Port refinery will
process biodiesel from crude palm oil feedstock. Pure Biofuels has secured
memorandums of understanding with local fuel distributors for all of Callao
Port's annual biodiesel production.
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